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If your move is not out of town,
you've probably spent a fair number of hours touring the
neighborhoods you're interested in. It's a great way to get
acquainted with the area. Better yet, you may have parked the car
and gone on a walking tour. So, what happens if you spot a For Sale
By Owner that looks promising?
Many home owners want to avoid paying
a commission. They will attempt to sell their property on their own.
It might be tempting to negotiate on your own, but there are a
number of possible pitfalls and some of them can be quite costly.
If you decide to pursue this
possibility, your first step would be to ask the homeowner if they
would be willing to work with your agent (Buyers Agent). Most will,
if they feel like your intentions are serious. If they say no, you
might want to consider moving on, unless you are well versed in real
estate transactions and negotiation. Your agent will have your best
interest in mind and can offer a number of important services. Most
people who try to sell on their own do not know the true value of
their property. And quite often, sentiment plays a part in the
pricing strategy. The Jones down the street may have gotten a
particular amount, but features and conditions may not be the same.
Your agent can run comps for you that will give you greater insight
on a realistic price.
Your agent is skilled in asking the
right questions and knowing what to look for. They can help you not
only to negotiate the price, but also handle getting disclosure
statements, knowing which inspections to ask for and helping you
obtain appropriate financing. A Buyers Agent can handle the nitty
gritty of making sure your purchase contract is worded to include
everything you expect, such as appliances, or curtains. They will
arrange for earnest money deposits and closing dates. It would be
rare for a home owner to have all these skills.
So, how is the Buyers Agent paid for all these services? Again, most
home owners are happy to pay the commission for a good, clean sale.
If not, talk to your agent. No one wants to work for free and fees
can vary. A home purchase is usually one of a person's largest
investments. Don't be penny wise and pound foolish when it comes to
this major financial decision.
Copyright
2003 PropertySource Network |
